Dubai's flagship carrier Emirates EMIRA.UL reported a 72-percent drop in 2011 profits on Thursday as soaring fuel prices accounted for nearly half of the Gulf carrier's costs.
Emirates, among the top 10 in the world by passenger numbers, had profit of 1.5 billion dirhams ($409 million) for the fiscal year ended March 31, compared to profit of 5.4 billion dirhams in 2010.
Revenue at the Dubai government-owned airline was 62.3 billion dirhams in 2011, up 14.9 percent.
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